Janux Therapeutics (NASDAQ:JANX) Rating Reiterated by HC Wainwright

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Monday, Benzinga reports. They currently have a $63.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 40.25% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. Wedbush reissued an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. Finally, Scotiabank dropped their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.57.

Janux Therapeutics Trading Up 3.5 %

NASDAQ:JANX opened at $44.92 on Monday. The stock has a market cap of $2.33 billion, a P/E ratio of -36.82 and a beta of 3.57. The stock’s 50-day moving average is $41.23 and its 200-day moving average is $40.28. Janux Therapeutics has a 1-year low of $5.65 and a 1-year high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.20. The company had revenue of $8.90 million for the quarter, compared to analysts’ expectations of $0.77 million. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. Janux Therapeutics’s revenue for the quarter was up 709.1% on a year-over-year basis. As a group, equities analysts forecast that Janux Therapeutics will post -1.34 EPS for the current year.

Insider Activity at Janux Therapeutics

In related news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $37,081,025.25. Following the completion of the sale, the insider now directly owns 3,271,216 shares of the company’s stock, valued at approximately $179,099,076. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Tighe Reardon sold 822,721 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the completion of the sale, the chief financial officer now directly owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $37,081,025.25. Following the sale, the insider now directly owns 3,271,216 shares of the company’s stock, valued at $179,099,076. The disclosure for this sale can be found here. In the last three months, insiders sold 3,000,000 shares of company stock valued at $164,250,000. 35.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

Several large investors have recently made changes to their positions in the business. Amalgamated Bank increased its position in shares of Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Janux Therapeutics in the 2nd quarter worth about $29,000. Plato Investment Management Ltd purchased a new stake in Janux Therapeutics in the 2nd quarter worth about $42,000. Nisa Investment Advisors LLC increased its holdings in Janux Therapeutics by 10,740.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock worth $29,000 after acquiring an additional 2,685 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Janux Therapeutics in the 2nd quarter worth about $151,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.